Experts are forecasting a substantial surge in the price of XRP, despite the current downward trends in the market. Ripple is planning a significant release of 400 million tokens, preparing for a major token dump.
Crypto analysts are optimistic about the future of XRP, with analyst DustyBC predicting a “God candle” that could propel the price of XRP to unprecedented levels. This year is anticipated to witness a long-awaited parabolic shift in the price of XRP.
In a recent chart shared on the X platform, DustyBC predicted that XRP could reach $30 with the anticipated “God candle.” This would represent a staggering 4,000% increase in the price of the cryptocurrency token. DustyBC believes that this sharp price surge will take place later this year.
DustyBC and another analyst, CasiTrades, both foresee a breakout for XRP after years of consolidation, based on a symmetrical triangle pattern analysis. CasiTrades described XRP as presenting a once-in-a-lifetime opportunity as it nears the completion of its 2,245-day triangle pattern.
CasiTrades previously suggested that if XRP breaks out of the consolidation triangle, it could potentially reach as high as $80. She recently indicated that a breakout is imminent following further consolidation in the last few days.
Currently, according to data from CoinMarketCap, the price of XRP stands at $0.5277, showing a 1.48% increase from the previous day. However, over the past week, XRP has been experiencing a bearish trend, with a 0.18% decrease in price.
Additionally, CNF has reported on Ripple’s plan to release 400 million tokens in the largest monthly XRP dump since 2017. For more information on Ripple (XRP), you can refer to our guides on buying Ripple, setting up a Ripple XRP wallet, checking the 24-hour XRP price, and staying updated on the latest Ripple news.